2001News

Mining Chamber protests new pension plan

The Chamber of Mining of the Dominican Republic has protested the implementation of Law 374-98 that establishes a pension plan for mining, metalworking and metalmechanical workers. Salvador Brower, president of the organization, said that they have proof that several companies have been visited by inspectors that are attempting to oblige these to pay the half percent on total sales the law establishes. The Chamber rejects the fund pointing to the irregularity that 35% of the funds garnered will be allotted to administering the fund, when other funds that operate in the country only allot 4-12% to this. The Chamber also says that the board in charge of administering the fund presents irregularities as it is presided by the director general of Mining when the law establishes it should be run by a board made up by representatives of workers, businesses and the government. Furthermore, the National Council of Business, the Association of Metalmechanical and Metalurgical Business reject the operation of the fund now that the nation is pushing for the passing of a National Social Security Bill that should replace this bill. The National Council of Business has urged that Congress incorporate into the text of the Social Security Bill a provision establishing the derogating of all special pension fund laws such as the one affecting mining and metal work companies to avoid double taxation.